Apple quarterly profit up 38% but shares fall
Apple
San Francisco - Arab Today
Apple on Tuesday reported that its quarterly profit leapt 38 percent to $10.7 billion on surging iPhone sales, but fell short of analysts' expectations.
Apple shares fell sharply in after hours trading.
"We had an amazing quarter," chief executive Tim Cook insisted, noting that iPhone revenue in the quarter that ended on June 27 was up 59 percent from the same period a year earlier.
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